Top-of-mind economic news as we start the week:
— The Federal Reserve took no action on interest rates at its June 2023 meeting, after raising its key interest rate 10 times since March 2022.
— U.S. consumers expect inflation for the coming year to decrease slightly to 4.1%, the lowest anticipated level since May 2021.
— U.S. consumer sentiment in June rose to 64 on key University of Michigan index, up 28% from the historic low of 2022 but below the 90-100 levels pre-2020.
— The European Central Bank raised its key interest rate 25 basis points to 3.5%, the highest in 22 years; foresees regional inflation of 5.4% in 2023, 3.0% in 2024.
— The European Commissions proposed regulating ESG ratings firms to increase the transparency, reliability and comparability of the data provided.
Disclaimer: Clicking on any of the above links will take you away from the Laird Norton Wealth Management web page and to the source page. While we believe the information in these articles is relevant, we cannot guarantee its accuracy or completeness.